KOTA BHARU, July 9 — Police are monitoring a number of founders of cosmetic brands and online businesses who flaunt extraordinary wealth on social media for possible money laundering activities.
Kelantan police chief Datuk Mohd Yusoff Mamat said that although the business activities of the individuals concerned had not been found to involve scams, their display of lavish lifestyles, including showcasing stacks of cash during live social media broadcasts, had drawn the attention of the authorities.
The monitoring is focused on determining whether there were any elements of money laundering.
"They are now on our radar; we are monitoring them for possible money laundering. If any offences are detected, we will take action together with the Inland Revenue Board and Bank Negara Malaysia," he told Bernama recently.
Those under investigation will be required to produce supporting documents, including receipts and transaction records, to substantiate the source of their funds.
Yusoff added that such ostentatious displays of wealth on social media were often intended to attract public attention to the products being marketed.
"When people see someone appearing wealthy and displaying stacks of cash, they assume the products are selling well and can generate substantial profits," he said.
In a related development, Yusoff advised the public to remain vigilant against scam syndicates and not be easily lured by investment schemes promising lucrative returns within a short period.
He also urged the public to familiarise themselves with scammers' modus operandi, avoid answering calls from unknown numbers, and use only legitimate, trusted online trading platforms.
"If an investment promises huge returns in a short period, it should be treated with suspicion. And if you are too lazy to read, just ask ChatGPT how to avoid scammers," Yusoff said.
